Philippines, 03 Oct 2025
  Home >> News

 


BOXERS

CURRENT CHAMPIONS 

FORMER CHAMPIONS   

RATINGS                       

NEWS           

FORUM        

FIGHT GALLERIES        

RING CARD GIRLS        


 
 
News  


How LeBron built his business empire


PhilBoxing.com





Since turning pro in 2003, LeBron James has made $765 million, according to a Forbes report published in July.

He has spent it, invested it and grown it his way ? and led to Hollywood.

The roots of James? business empire can be traced to Akron, Ohio where he grew up with a single mother.

?My uncles always taught me, they taught me how to have a savings account," James said during an interview taped for one of his own media companies. "They'd give me a dollar and they'd be like, 'Listen nephew, go spend 35 cents of it and keep the other 65.

?Or, if they gave me two dollars, they'd be like, 'Go ahead and spend a dollar of it, but stash the other dollar.'

"So I'm always in my head about stashing and keeping my money sacred and to myself because I didn't know when my uncle was going to give me another dollar here and another 50 cents here."

At 18, as a high school senior, James no longer was counting quarters. He, his mother and an agent flew to Reebok?s corporate headquarters to hear a pitch for a sneaker-and-apparel deal. During the meeting, Paul Fireman, Reebok?s CEO, wrote a $10 million check ? a gift, he explained, if James would agree not to visit Nike or Adidas.

James turned it down.

?I still can?t believe I left that $10 million," he said with a grin during another interview taped for his media company. He also credited his uncles again, recalling they told him, 'Never put all your eggs in one basket. And give it an opportunity. Give people an opportunity.' "

James met with Nike before and a month before the Cleveland Cavaliers selected him with the first pick of the 2003 NBA draft, he signed a seven-year deal that, reportedly, was worth $90 million, then the most lucrative deal ever awarded by Nike.

Two years later James fired his agents, both veterans in the industry, and handed the business reins to Maverick Carter, a boyhood friend of James who at the time was 23. He also hired Rich Paul, also from Ohio, to serve as his agent.

Together, the group founded a company called LRMR Management Company, LLC that provided sports and brand management services ? and served as a glimpse of what was to come.

James also came to befriend billionaire Warren Buffett, who is a friend of Cavaliers owner Dan Gilbert and who met James not long after the power-forward joined the Cavaliers. During a recent interview with USA TODAY Sports, Buffett lauded James for his ?money mind."

?People really do have minds that function better than other people?s in certain areas that you can?t give a test for," Buffett said. ?And LeBron, in addition to a lot of other talents, he has a money mind. And he gets stuff. ?

?He can separate out the cream from the crap, and you get more of the latter proposed to you than you do of the former. You really have to be able to suss it out."

Buffett said James listened and was thoughtful.

?He thinks about the world well," said Buffett, who said he and James communicate periodically. ?And he hasn?t forgotten Akron. He?s a real human being.??

A very wealthy human being.


Click here to view a list of other articles written by Eddie Alinea.


Recent PhilBoxing.com In-House articles:

  • Allan Villanueva vs. Jyl Wright Headlines Peter Maniatis Event in Melbourne Oct. 3
    , Thu, 02 Oct 2025
  • BUSTAMANTE AND JONES NAMED CAPTAINS FOR REYES CUP 2025
    , Thu, 02 Oct 2025
  • Mike Tyson Joins BoltBetz as Strategic Investor and Promotional Partner to Usher in a New Era of Cashless Gaming
    , Thu, 02 Oct 2025
  • BOXING LEGEND MANNY PACQUIAO LAUNCHES “MANNY PACQUIAO PROMOTIONS” IN THE UNITED STATES
    , Thu, 02 Oct 2025
  • BOOTS HUNTING THE BIG FISH AT 154LBS
    , Thu, 02 Oct 2025
  • IBA Unveils Historic 2025 IBA Men’s Elite World Championships as Part of a Spectacular Two-Week ‘Festival of Boxing’ in Dubai with Unprecedented $8 Million Prize Pool
    , Thu, 02 Oct 2025
  • Final Bell for 2025 USA Boxing National Open Event National Open Event Concludes with 1,870 Registered Participants in Tulsa, Oklahoma
    , Thu, 02 Oct 2025
  • THRILLA IN MANILA GOLDEN ANNIVERSARY 15: JOE FRAZIER’S PROFESSIONAL CAREER
    By Maloney L. Samaco, , Thu, 02 Oct 2025
  • World Boxing relocates Congress 2025 to Rome
    , Thu, 02 Oct 2025
  • Round 12 with Mauricio Sulaiman: Behind the WBC Boxing Grand Prix
    By Mauricio Sulaimán, , Wed, 01 Oct 2025
  • JOHANN CHUA BEGINS TITLE DEFENCE AGAINST IVICA PUTNIK AS DRAW CONFIRMED FOR 2025 HANOI OPEN POOL CHAMPIONSHIP
    , Wed, 01 Oct 2025
  • CUBAN FUTURE CHAMPIONS YOENLI HERNANDEZ, ARMANDO MARTINEZ RABI & GUSTAVO TRUJILLO HEADLINE ‘FISTS OF FURY 8’
    , Wed, 01 Oct 2025
  • USA Boxing Finishes Canada Duel Undefeated
    , Wed, 01 Oct 2025
  • Dana White Seeks to Make Significant Changes in the World Boxing
    By Gabriel F. Cordero, , Wed, 01 Oct 2025
  • THE PAST WEEK IN ACTION 29 September 2025: Ferreira Retains IBF 135 Belt by Outpointing Moneo; Clavel Dethrones IBF 105 Champ Cudos
    By Eric Armit, , Tue, 30 Sep 2025
  • Canelo Alvarez Facing Extended Layoff After Crawford Loss; Surgery Confirms Injury Rumors
    By Dong Secuya, , Tue, 30 Sep 2025
  • Dante Stone is last American standing in Inaugural WBC Grand Prix
    , Tue, 30 Sep 2025
  • Age Defying Triumph: At Age 50 Toshihiko Era Wins World Title
    By Carlos Costa, , Tue, 30 Sep 2025
  • TKO and Zuffa Boxing sign streaming agreement with Paramount
    By Gabriel F. Cordero, , Tue, 30 Sep 2025
  • Boxing Ephemera, Pacquiao’s Mouthguard, and the Meaning of It All
    By Emmanuel Rivera, RRT, , Tue, 30 Sep 2025
  • A turning point for global sport: IBA President Umar Kremlev and Donald Trump Jr join forces
    , Mon, 29 Sep 2025
  • Rosia captures PBF super fly title
    , Mon, 29 Sep 2025
  • Tancontians starred 2025 Sports Heroes Night
    , Mon, 29 Sep 2025
  • “Thrilla” guest list
    By Joaquin Henson, , Sun, 28 Sep 2025
  • Why Do So Many Boxers Play eGames?
    , Sun, 28 Sep 2025




  •  



     
    PhilBoxing.com has been created to support every aspiring
    Filipino boxer and the Philippine boxing scene in general.
    Please send comments to feedback@philboxing.com


    PRIVATE POLICY | LEGAL DISCLAIMER
    developed and maintained by dong secuya
    © 2025 philboxing.com.